Samsung's profit jumps 46 percent thanks to semiconductor

The figure was the largest except Samsung's record high of 10.16 trillion won in operating profit, which was tallied in the third quarter of 2013.

From January to March, Samsung operating profit was 9.9trn won (€8bn), with revenues up 2pc to 50.5trn won (€40.1bn).

According to a new report coming out of South Korea, Samsung is planning to begin selling refurbished Galaxy Note 7 units in Korea from June this year.

The solid set of results come after a turbulent period for Samsung.

Eun-young Jeong contributed to this article. This is an increase of 3.22 trillion won ($2.85 billion), 48 percent higher than the profit for the same quarter a year before.

Going forward, the firm said that in the second quarter, it expects to achieve growth thanks to the continuing robust memory performance, coupled with improved earnings from the mobile business following the global rollout of the Galaxy S8 and S8+.

This decision also shows that the Korean company plans to enhance sustainable long-term value for shareholders.

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Samsung Electronics is part of the broader Samsung conglomerate whose de facto chief, Lee Jae-yong, is now on trial over corruption allegations. "In the past, we have received feedback that consumers wanted the ability to customize the color setting of their Galaxy devices due to natural variations in displays, and we provided the option to do so in previous softwareupdates", the company said in a statement. Analysts note that loss has eased on positive response to new flagship G6 phone.

A spokesperson said: "For the mobile business, market competition is expected to intensify in the second half".

Total revenue was roughly $4.7 billion and sent shares to a new high, up 1.5% whilst the rest of the market was down 0.3%.

Lee Jae-Yong is accused of bribing Park and her secret confidante at the heart of the scandal millions of dollars in a bid to seek policy favour from Park.

He has effectively been at the helm of the group since his father suffered a heart attack in 2014.

While Samsung is yet to make a statement about the refurbished version of Galaxy Note 7, rumour mills are going swamped with new reports nearly every day.

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